haku: @indexterm UNEMPLOYMENT / yhteensä: 1236
viite: 114 / 1236
Tekijä: | Calmfors, L. Johansson, Å. |
Otsikko: | Unemployment benefits, contract length and nominal wage flexibility |
Lehti: | Scandinavian Journal of Economics
2004 : VOL. 106:1, p. 23-44 |
Asiasana: | Employment contracts Macroeconomics Unemployment |
Vapaa asiasana: | Nominal wage flexibility |
Kieli: | eng |
Tiivistelmä: | In bargaining model, it is shown that a decrease in the unemployment benefit levels increases not only equilibrium employment, but also nominal wage flexibility, and thus reduces employment variations in the case of nominal shocks. Long-term wage contracts lead to higher expected real wages and hence higher expected unemployment than short-term contracts. Therefore, a decrease in the benefit level reduces the expected utility gross of contract costs of a union member more with long-term than with short-term contracts, thereby creating an incentive for shorter contracts. |
SCIMA